QuidelOrtho (NASDAQ:QDEL) Shares Up 7.2% - Should You Buy?

Key Points

• QuidelOrtho shares jumped 7.2% to $11.55, although trading volume was 88% below the stock’s average session volume.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating, with three Holds and three Sells, and an average price target of $13.62.
• The company exceeded quarterly expectations with $0.13 EPS and $630.9 million in revenue, but reported a negative 39.2% net margin. Institutional investors own approximately 99% of the shares, with several major funds recently increasing or initiating positions.

QuidelOrtho Corporation (NASDAQ:QDEL - Get Free Report) was up 7.2% on Monday. The company traded as high as $11.73 and last traded at $11.5460. 199,114 shares traded hands during trading, a decline of 88% from the average session volume of 1,706,738 shares. The stock had previously closed at $10.77.

Analyst Ratings Changes

Several brokerages have commented on QDEL. JPMorgan Chase & Co. boosted their price target on shares of QuidelOrtho from $11.00 to $12.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 1st. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of QuidelOrtho in a report on Friday, July 17th. Jefferies Financial Group reiterated a "hold" rating on shares of QuidelOrtho in a research note on Monday, June 29th. Citigroup upped their price target on shares of QuidelOrtho from $13.00 to $18.00 and gave the company a "neutral" rating in a research report on Wednesday, July 8th. Finally, Zacks Research lowered shares of QuidelOrtho from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 12th. Three analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average price target of $13.62.

QuidelOrtho Price Performance

The firm's 50 day simple moving average is $13.55 and its 200 day simple moving average is $14.14. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 0.76. The stock has a market capitalization of $821.13 million, a PE ratio of -0.78 and a beta of 0.79.

QuidelOrtho (NASDAQ:QDEL - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.18. QuidelOrtho had a negative net margin of 39.20% and a positive return on equity of 4.88%. The business had revenue of $630.90 million for the quarter, compared to analyst estimates of $618.72 million. During the same quarter last year, the firm earned $0.12 EPS. The company's revenue was up 2.8% on a year-over-year basis. QuidelOrtho has set its FY 2026 guidance at 0.650-0.900 EPS. As a group, equities analysts forecast that QuidelOrtho Corporation will post 0.75 EPS for the current fiscal year.

Institutional Trading of QuidelOrtho

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of QuidelOrtho in the 2nd quarter valued at approximately $196,212,000. Paradigm Capital Management Inc. NY purchased a new position in shares of QuidelOrtho in the 2nd quarter worth approximately $44,168,000. Newtyn Management LLC boosted its holdings in QuidelOrtho by 45.3% in the second quarter. Newtyn Management LLC now owns 6,625,000 shares of the company's stock worth $116,037,000 after acquiring an additional 2,066,528 shares in the last quarter. Rice Hall James & Associates LLC purchased a new position in QuidelOrtho in the 2nd quarter worth $18,628,000. Finally, Private Management Group Inc. raised its position in QuidelOrtho by 49.5% during the 2nd quarter. Private Management Group Inc. now owns 2,070,391 shares of the company's stock worth $36,263,000 after buying an additional 685,622 shares during the last quarter. Hedge funds and other institutional investors own 99.00% of the company's stock.

About QuidelOrtho

QuidelOrtho Corporation NASDAQ: QDEL develops, manufactures and distributes diagnostic products used by healthcare providers, clinical laboratories and blood-processing organizations. The company's offerings are designed to support the detection, diagnosis and monitoring of infectious diseases, cardiovascular conditions and other medical conditions.

Its product portfolio includes point-of-care testing systems, molecular diagnostic assays, immunoassays, clinical chemistry and immunodiagnostic platforms, as well as transfusion medicine products.

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